(b) \_Lessor’s Performance\_. If any Lessee Party fails to perform
or comply with any of its agreements contained herein or in the other
Transaction Documents, including its obligations to keep the Aircraft and any
Collateral free of Liens (other than the Permitted Liens), comply with
Applicable Standards, or obtain the Required Coverages, Lessor shall have the
right, but shall not be obligated, to effect such performance or compliance,
with such agreement. Any expenses of Lessor incurred in connection with
effecting such performance or compliance, together with interest thereon at
the Late Payment Rate from the date incurred until reimbursed, shall be
payable by Lessee to Lessor as Rent promptly on demand and until such payment
shall constitute part of the obligations secured by any Collateral. Any such
action shall not be a cure or waiver of any Default or Event of Default
hereunder.